Colmarco Internal Memo

From: Chief Executive’s Office

To:     Task Teams working on reducing Labour Turnover


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Colmarco Internal Memo Lab To

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Colmarco Internal Memo Lab To

  1. 1. Colmarco Internal Memo From: Chief Executive’s Office To: Task Teams working on reducing Labour Turnover Re: The Size of Our Labour Turnover Problem: ‘Read it and weep’ I thought it would help were I to let you have the key internal statistics on this matter: they do NOT make very happy reading at all and demonstrate the scale of the staff retention problem facing us: we are haemorrhaging employees at an unsustainable rate at all levels from ground floor to the top - the loss at managerial level being particularly disastrous to my mind after we have invested so heavily in them in terms of training and professional development. One might think we'd be grateful for this in the current financial crisis, but this is not the case: we are now beginning to suffer a distinct loss of managerial and operational capability. This is doubtless costing us a fortune and I want comprehensive, workable solutions, as they say: ‘yesterday’. The figures: 1. Overall Group Labour Turnover is 48.64% This in return reflects: • Turnover at Managerial level : 39.19% • Turnover at Operational level : 50.74% 2. Reasons for Leaving are as follows:- 3. Timing of Leaving. • 55% of the Managerial Level leavers resign in their first 6 months • 70% of Operational Level leavers resign in their first 6 months 4. Direct, quantifiable costs* of replacing lost staff are believed to be in the range of: • At Senior Management level 200,000 Euros per person • At Management level 60,000 Euros per person • At Operational level 6,000 Euros per person * We are also worried about non-quantifiable but nonetheless REAL costs such as impaired performance etc…

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